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Industrial Floor Coatings are fastest growing segment fueling the growth of Industrial Flooring Market

Lucy Kart
Industrial Floor Coatings are fastest growing segment fueling the growth of Industrial Flooring Market

The global Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Industrial flooring products such as concrete, vinyl, polyurethane etc provide protection to heavy machinery and vehicles from corrosive chemicals, dust, environmental impact while enhancing safety and aesthetics of industrial spaces. These resilient floorings facilitate easy cleaning and maintenance and contribute towards improved efficiency.

Market key trends:

One of the key trends driving the growth in the industrial flooring market is the increased adoption of solvent-free and low VOC emission floor coatings by manufacturing industries. These eco-friendly polyurethane, epoxy and acrylic coatings meet environmental regulations while providing superior mechanical strength, abrasion and chemical resistance. Their rapid curing times allow for less downtime during application and early operations post installation.

Segment Analysis

The global industrial flooring market is segmented into material, end-use industry, and region. Based on material, the cement segment dominated the market in 2022 and is projected to maintain its dominance during the forecast period. Cement flooring offers durability, strength and is crack and impact resistant which makes it ideal for industrial applications.

Key Takeaways

Global Industrial Flooring Market Demand was valued at US$ 9.5 Bn in 2023 and is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period, due to increasing demand for durable and maintenance-free flooring solutions in industries.

Regional analysis

Regionally, Asia Pacific accounted for the largest share in the global industrial flooring market and is projected to be the fastest growing market during the forecast period. This growth can be attributed to rapid industrialization and establishment of manufacturing units in countries like China and India.

Key players

Key players operating in the industrial flooring market are BASF SE, Sika AG, RPM International Inc., Mapei U.K. Ltd. Fosroc, Don Construction Products Ltd., Cipy Polyurethanes Pvt Ltd., Viacor Polymer GmBH, Twintec, Acrylicon, Cornerstone Flooring, Applied Flooring, AVCON Technics Pvt. Ltd., 4m Europe, and East Coast Flooring Ltd. BASF SE and Sika AG are recognized as the market leaders owing to their extensive product portfolio and global presence.

Get More Insights on this Topic- https://www.dailyprbulletin.com/industrial-flooring-market-value-insights-and-future-trends/

Lucy Kart
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